If you’re going to make some changes this spring, why shouldn’t you start with your fiancés? As much as we hate to admit it, the truth is that our finances impact so much of our lives. Yes, there are parts of our lives that aren’t touched by finances, but those sections are few and far between. What you need to do is make sure that you’re cleaning out your financial life. If you’re thinking about finances, then it’s time to think about your bank account.
You might wonder why we would turn our gaze on a bank account in the first place. Banks are pretty passive — they take your money and they put it in a safe place. We pay them some fees in exchange for keeping that money safe and sometimes we even get a little interest paid out. Not too shabby, huh? Well, the truth is that your bank might be going overboard in terms of fees. Trying to keep your money in a bank that just doesn’t value you as a customer anymore isn’t the right way to go at all. What you need to do is make sure that you are aware of all of the other places that wouldn’t mind taking your money and actually keeping it safe without all of the hassle and red tape. Not sure that this type of establishment exists?
Guess again — it’s a credit union. Credit unions are actually regulated by a completely different authority, and the focus is on keeping your money without all of the high fees and red tape. Getting a credit union account is easy, because it’s based on where you live, what associations you’re a member of, and even where you work. There are a lot of different ways to get a credit union account, just as there are plenty of different credit unions out there.
You’ll find that the credit union is smaller, and the accountholders are actually shareholders in the entire establishment. This means that everything is based on what the members actually want. This type of approach means a much friendlier establishment all around. If you’ve always wanted to go into a bank where they know your name and they know a little more about you, then a credit union is honestly where you want to go. [Read more…]